Eagle Global Advisors LLC Buys 137,030 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Eagle Global Advisors LLC increased its stake in Kinder Morgan, Inc. by 15.6%, owning over 1 million shares worth approximately $29 million as of the latest SEC filing.
• Other institutional investors, including Westwood Holdings Group and Burney Co., have also recently increased their stakes, indicating a strong interest in Kinder Morgan by institutional investors.
• Kinder Morgan declared a quarterly dividend of $0.2925, translating to an annualized amount of $1.17 with a yield of 4.4%, set to be paid to investors on August 15th.

Eagle Global Advisors LLC increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,016,490 shares of the pipeline company's stock after purchasing an additional 137,030 shares during the period. Kinder Morgan makes up about 1.2% of Eagle Global Advisors LLC's portfolio, making the stock its 19th biggest holding. Eagle Global Advisors LLC's holdings in Kinder Morgan were worth $29,000,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Kinder Morgan in the 4th quarter valued at $308,000. Federated Hermes Inc. increased its stake in shares of Kinder Morgan by 8.9% in the 4th quarter. Federated Hermes Inc. now owns 19,054 shares of the pipeline company's stock valued at $522,000 after purchasing an additional 1,553 shares during the last quarter. FMR LLC increased its stake in shares of Kinder Morgan by 19.0% in the 4th quarter. FMR LLC now owns 3,871,677 shares of the pipeline company's stock valued at $106,084,000 after purchasing an additional 618,290 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Kinder Morgan by 25.3% in the 4th quarter. Townsquare Capital LLC now owns 83,002 shares of the pipeline company's stock valued at $2,274,000 after purchasing an additional 16,754 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in shares of Kinder Morgan in the 4th quarter valued at $511,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the sale, the vice president directly owned 232,034 shares of the company's stock, valued at approximately $6,450,545.20. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sital K. Mody sold 45,549 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock valued at $3,896,180 in the last ninety days. Insiders own 12.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KMI. Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley set a $34.00 price objective on Kinder Morgan in a research report on Monday, July 7th. Royal Bank Of Canada boosted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 29th. Scotiabank boosted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Friday, July 18th. Finally, TD Cowen began coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Kinder Morgan presently has an average rating of "Moderate Buy" and an average target price of $31.20.

Kinder Morgan Stock Down 0.4%

KMI stock traded down $0.11 during trading on Friday, reaching $26.75. 6,057,894 shares of the stock were exchanged, compared to its average volume of 14,604,303. The firm's 50 day moving average is $27.77 and its 200 day moving average is $27.38. Kinder Morgan, Inc. has a twelve month low of $20.56 and a twelve month high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The firm has a market cap of $59.43 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%. The company's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 31st. Kinder Morgan's dividend payout ratio (DPR) is presently 95.90%.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.